Hawaiian Holdings, parent company to Hawaiian Airlines, reported $11.1 million in net income for the fourth quarter of 2014, a drop of 35% from the $17.1 million profit the carrier reported for Q4 2013.

Hawaiian’s passenger revenue for the quarter increased, however, climbing 5.3% year over year, to $503.2 million.

“2014 finished on a high note with the company posting much better results than a year ago,” Mark Dunkerley, Hawaiian’s president and CEO, said in a statement.  “We served more customers than ever before, grew revenues, improved profitability and strengthened our balance sheet, [and] 2015 will be another year of improvement as long as demand, fuel and industry capacity in our marketplaces remain as forecast.”

The airline generated $68.9 million in net income during the entirety of 2014, up from $51.8 million in 2013.

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